This is the official blog of the Hispanic Organization of Latin Actors (HOLA). www.hellohola.org

HOLA has been funded, in part, through the New York State Council on the Arts, The City of New York Department of Cultural Affairs, Friends of HOLA and the dues-paying members of HOLA.

Friday, January 20, 2017

New York Governor Andrew Cuomo’s Budget Extend State’s Film Incentives Program

On Tuesday, January 17, 2017, New York Governor Andrew Cuomo unveiled a state budget that includes a three-year extension of the state’s film production tax credit. Launched in 2004 and extended by Cuomo in 2013, the $420 million-a-year program isn’t set to expire until 2019 but was expected to run out of money later this year without the additional funding provided for in the new state budget.

An economic impact report conducted for Empire State Development, the state’s economic development arm, found that in one two-year period – 2013 and 2014 – the program had created more than $5 billion in spending in the state, generated nearly $10 billion in total spending throughout the state’s economy, created more than 60,000 jobs and $3.3 billion in earnings.